The System II (Yes with irony)

ok my friend,
we are lacking step by step expectancy practises in the thread at the moment.. but before i get into that i want to point out one thing to you and that is paying attention to the most recent price action which will lead you to first of all, draw your lines correctly(it effects your entery)and second, stay close to price based on whats happening at the moment.
ok, now the way to handel the fakeouts (which it happens often.. get used to it) is to be patience because most time market decives you.. so you wait for the price to show his reall hand.. if price keeps on going aganist you and hits you sl big deal losing should be part of you agenda (spead the load wisley).. but if the price turns back in your direction again (which it did in your first fakeout example and dose most times) you really need to watch the price around the line and try to make your exit decision right there when you see the second failure, so you lose maybe a few pips if not breakeven and quickly look the other way (febs comments about "markets are like moving sand") always keep that in back of your mind because market give you a pretty nice bearish opportunity as well with no fakeouts nothing but a quick minimum 20pips profit.

so how to handel the fakeouts:
1) Be patience.. don't be decieved by the market to quickly.
2) in case of price turn in your favor.. don't be greedy and look for the exit for smaller loss or breakeven.. don't give a dime away.. there is allways another oppourtunity and even a possible reentery.
3) look for the price to show his reall hand by detecting H/L and L/H's.. force the price to show you that.. but need to risk comfortably and spread the load wisley.

to me meaning of the fakeouts:
fakeouts= things did not go as i planed now its time to give away as less as possible by exiting and look for the next oppourtunity.

I hope it helps.

currently enjoying this bearish ride lets see how it will end up.. I show you guys to end how i will play the expectancy with this.. stay tuned..


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Yes, I do agree with you, ... the only thing I was aiming to it's to convince the other guys, that ...
there is no justification into be afraid of taking a shot after shot, doesn't matter which way and for what reasons the market is moving.
No worries mate, I'm not taking anything in a wrong way, and will continue my best with less emphases on other issues then the price action.

I stay patience to see when will it turn.. if it keeps going up and hit my white line last H/L big deal i lose 15 pips..

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now i pay very close attention to how price reacts to my brarish breakout line... and my sl is moved lower.. pretty much getting free ride now..

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you are gentelman and a scalar..

one failure and price stall.. you could either take small profit and set a sell order on the bottom.. or risk and wait for the price to really break the top line..

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now back to basic that we have learned from our great mentor.
expectancy= price must go your way in a resonable time, speed and rhthym.. now you be the judge..

now according to my personal agenda based on how i risk and my comfort level and the way i spread the load.. I look much closer how price will react around the blue box.. I might take profit if it acts funny and look for reentery or go bracket and put even buy order on top...

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3 failures and price stall.. not what i am looking for and planed on.. time reached to go to the bank.. trade good for $700.. now i go bracket and will place 2 orders one on top and one on the bottom.

I hope it helped you guys.. i need a break..

... my entry is little lower, 'cos trying avoid false break-out;
now this means my T/P is lower too, ... few pips

WOW, fxachilies that was a cooool live session. thank you so much !!

AND:

thank you for your lucid explanations, especially on the fakouts.
It helps me very much, cause after three losers in a row you don´t see the
hole thing from an objective viewpoint just beeing paralysed about what happend....

You are absolutly right, my first loss was unnecessary, and I missed the turning point for a nice shorttrade !
I have to learn to keep emotions out of it,.. and just keep on reading price
action and as you said ,...look for the other direction. shot by shot. and I recognise you have to be
patienton one hand , but also very quick in decicion taking on the other hand.

Maybe I should work more with pending orders, I dont know why, but I always
go market.

I had some nice trades the other days, so I´m fine with it ,--lets just " wash, shake, rinse,.....wheres the next wave ?

You guys are doing a great job here thanks again for this support !!
..and I really do enjoy watching you and DareXau, showing a living example of how
this can workout. good job guys.

... I'm just wondering what the hell this spike is about, apart of killing my third trade today ...

aaaah that was ugly. but I hope you could compensate with this one...

ok guys,
i just came back and witnessed a spike upward and a nice brearish countinues move.. market went where he originally was planning to go but gave us hell and all kinds of looks..
but i want to point out the difference between very distinguished traders and for example someone like myself.. someone in advance level like feb would have stayed with the original trade and enjoy the bearish ride for a good 30pips profits.. he is able to read and tolerate that big spike and I on other hand could not do as well as him.. so still learning and improving.. more importantly taking one step out of time and learning the curve and practising expectancy.. learning from each situation will add power to your arsenal.

nice job julias with recongnizing the other way and taking action.. super.

... just a bit compensated, fight back 18 pips where total loss was 28, but on the weekly base I'm better of ... ??? ... about 5 - 7 hundreds

going the other way.. I hope you are to in this long ride..

looks promising.. but it wont be a true runner without a hiccup or something.. its cool i am waiting for it.. lol


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